Tripadvisor's stock jumped after Starboard Value disclosed a more than 9% stake in the online travel company in a securities filing. The stake was valued at $160 million as of Wednesday's close.
Tripadvisor s are flat since the start of the year after plummeting more than 30% in 2024. In this articleTRIP your favorite stocksCREATE FREE ACCOUNTThe Tripadvisor logo is displayed on a tablet.
Mateusz Slodkowski | Sopa Images | Lightrocket | Getty ImagesTripadvisor stock jumped 17% Thursday after Starboard Value revealed a more than 9% stake in the online travel company, according to a securities filing.
The position was valued at $160 million as of Wednesday's close. Tripadvisor s have been flat since the start of the year after plummeting more than 30% in 2024.
Last year, the travel review and booking company said it created a special committee to explore potential options.
Read more CNBC newsAI virtual personality YouTubers, or 'VTubers,' are earning millionsJeff Bezos sells $737 million worth of Amazon sTesla s drop on Musk, Trump feud ahead of Q2 deriesChipmakers get larger tax credits in Trump's 'big beautiful bill'Starboard Value has gained a reputation for pushing for changes such as new CEOs and cost cuts by acquiring significant s in companies.
Most recently, the firm settled a xy fight with Autodesk, where it gained two board seats. It has previously pushed for changes at Tinder parent Match Group, pharmaceutical giant Pfizer and Salesforce.
The Wall Street Journal was the first to report the news late Wednesday. Both Starboard Value and Tripadvisor did not immediately respond to CNBC's request for.